Copper Sheet: A Strategic Raw Material and Global Copper Price Outlook 2026 By SO OK TRADING

Copper Sheet: Strategic Raw Material and Global Copper Price Outlook 2026

By SO OK TRADING

Global Copper Market Overview

2026 marks the year when copper is elevated from a common commodity to a “strategic asset.” On the London Metal Exchange (LME), copper prices surged to historic highs of USD 13,200–13,400 per ton and remain elevated due to both demand and supply factors.

Demand Drivers:

AI and Data Centers: Expected to consume over 475,000 tons of copper in 2026.
Clean Energy (EV & Smart Grid): Electric vehicles use 4 times more copper than conventional cars.
Defense Investment: Rising military budgets increase copper demand in electrical systems and industrial equipment.
Supply Constraints:

The refined copper market faces a deficit of 150,000–330,000 tons.
Major mines in Indonesia, Chile, and Congo have experienced disruptions.
New mine development requires 20–30 years, slowing supply growth.
 

Copper Price Outlook for 2026

Early 2026: Prices remain above USD 13,000/MT, supported by strong demand from AI, data centers, and EVs.
J.P. Morgan: Forecasts an annual average of USD 12,075/MT, with potential to reach USD 12,500/MT in Q2.
Citigroup: Predicts that if the supply deficit persists, prices could exceed USD 13,000/MT and approach USD 15,000/MT.
Goldman Sachs: Expects a late-year correction to USD 11,000–11,200/MT, as scrap copper enters the market.
SO OK TRADING (Internal Estimate): Projects an annual average of USD 12,500/MT, with strong support unlikely to fall below USD 11,500/MT.
Summary: 2026 will be a year of persistently high copper prices, with potential to reach USD 13,500–14,000/MT by mid-year. Even after a correction later in the year, prices will remain significantly above historical averages.
 

Copper Market in Thailand

Imports: Thailand relies almost entirely on imported copper cathodes (99.99%). Import value is expected to reach USD 5.3 billion.
Exports: Copper products (wires, pipes, sheets) are projected to generate USD 2.8 billion in exports.
Key Industries:
EVs: Each electric vehicle uses an average of 83 kg of copper.
Electronics & Data Centers: AI growth drives demand for copper sheets and foils.
Construction & Clean Energy: Expansion of smart grids and solar panels increases copper usage.
 

Applications of Copper Sheets in Thailand

EVs and Charging Systems: Busbars and conductors in high-voltage charging stations.
Electronics: Copper foil for PCBs and power systems in data centers.
Air Conditioning & Heat Exchangers: Enhances thermal efficiency.
Electrical Infrastructure: Switchboards and grounding systems.
Architecture & Buddhist Art: Copper sheets as premium materials for decoration and sculptures.
 

Solutions for Thai Businesses

Risk Management (Hedging): Protect against price volatility.
Copper Scrap Recycling: Reduce import dependency and enhance sustainability.
Alternative Materials: Use Copper Clad Aluminum (CCA) in applications not requiring maximum conductivity.
 

SO OK TRADING: Strategic Copper Partner

SO OK TRADING supports Thai and international businesses with:

Reliable supply of Grade A copper (99.99%).
Hedging and risk management services to mitigate price volatility.
Promotion of circular economy through copper scrap recycling.
Introduction of innovative alternatives such as CCA and copper-coated materials.
 

✅ Final Summary

2026 is the year copper becomes a “strategic asset.” Prices remain high and volatile, driven by demand from AI, EVs, and clean energy. Thai businesses must adapt through risk management and alternative materials, while SO OK TRADING stands ready as a strategic partner, providing high-quality raw materials and helping Thai industry remain competitive in the global market.